Turnkey multi-unit investment opportunity in a convenient Midtown Santa Cruz location. The property features five residential units across three structures plus a vacant rear portion of the parcel offering potential for future development. Unit mix includes a 3BR/2BA single-family home (420 Capitola Rd Ext) with an attached studio (420A), a… Read More detached 1BR/1BA home (422), and a duplex with a 2BR/1BA unit (422A) and a 2BR/1.5BA unit (424) sharing one wall. Additional improvements include covered parking, a shared laundry area, and several accessory structures. The parcel is primarily designated Urban Medium Residential and zoned RM-4, providing potential flexibility for multi-family housing uses. Well located near Midtown Santa Cruz, Ocean Street, Downtown, and area beaches, with convenient access to shopping, dining, and commuter routes. The property has a strong rental history and currently operates as a solid five-unit income property with ample open space and long-term upside potential, including the possibility for future expansion or larger-scale development. Buyer to verify zoning, and development potential with appropriate government agencies. Read Less
Listed by David Lyng Real Estate, Kasey Hinchman 831-239-3708
Listing Snapshot
Days Online
18
Last Updated
Property Type
Five Or More Units
Square Ft.
4,530
Lot Size
0.94 Acres
Year Built
1950
MLS Number
ML82038636
30 Days Snapshot Of 95062
$1.54M
-16%
(avg) sold price
11
-42%
homes sold
23
-68%
(avg) days on market
Snapshot
Area Map
Additional Details
Lot
Max Area: 40729.00, Max Area Units: Square Feet, Lot is 0.93500918273646 acres
Accessibility Features
None
Unit One
1,592 approximate square feet, 3 bedrooms
Unit Two
677 approximate square feet, bedrooms: 2
Unit Three
915 approximate square feet, bedrooms: 2
Unit Four
869 approximate square feet, 1 bedroom
Building
4,530 structure square feet, Age: 76, Built in 1950, 3 buildings, 5 minimum units in complex
Cooling
None
Foundation
Concrete Perimeter, Concrete Slab
Garage
Off-Street Parking, Room for Oversized Vehicle
Water Features
Public
Heating
Forced Air
Tenant Pays
Miscellaneous/Other
Miscellaneous
Total expenses: 27660
Parking
7 parking spaces
Property
Zoning: RM-4
Roof
Composition
Security Features
None
Taxes
Annual tax amount: $13,700
Sewer
Sewer - Public
Utilities
Master Water, Separate Electric, Separate Gas, Separate Water, Public Utilities
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